This game is more computationally demanding than Oblivion because it is more detailed, with far more objects in most or all areas. If you are patient, someone will surely get performance-related mods for Oblivion to work with Nehrim, and all shall be well again.

They were telling people this from the beginning, that they were only going to translate the text. You didn't have to dig very far to find that out. Think of it like watching a foreign film, except, it's a game.

As long as it doesn't have horrible grammar/spelling (I'm pretty sure the long wait was to avoid this), I don't see a problem with subtitles. It let's you make up how different people sound in your mind :)